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1、n 当前文档修改密码：8362839GOLDRATT SATELLITE PROGRAM 高瑞特卫星节目SESSION TWO第二讲FINANCE AND MEASUREMENTS财务与绩效评估Good evening, and to all the friends in the Americas- Good morning!大家晚安。各位美国的朋友早安。Finance and measurements. 财务与绩效评估。Finance is the function in our organization that takes care of the money.财务在我们组织里的功能是管理
2、金钱。They are the ones who are responsible for all the payables, they are the one who pays. 他们负责所有的应付帐款，他们是付钱的人。They are responsible for the receivables, the one who invoice and are supposed to collect as well. 他们负责应收帐款，要开发票而且必须催收款项。They are also in charge of all our relationships with the banks. But
3、I am not going to talk about that aspect of the work of finance. 他们也负责维系我们与银行之间的关系，但是我不打算讨论财务那部分的功能。What I am going to concentrate on in this session is the link between finance and measurements.在这个讲次里，我把重点放在财务与绩效评估之间的关联。Finance are the scorekeepers. They are responsible for judging the actions and
4、the decisions that we do in the organization.财务是计分员，他们负责评估我们在组织里的各项行为和决策。And if you look into it, you will find out that actually the areas that we are looking for judgements and for help from finance to judge, to measure, are five different areas. 如果你深入探讨，会发现我们希望财务帮忙评估衡量的共有五部分。One of them is judgem
5、ent of the system as a whole.其中之一是对系统作整体评估。That is why finance is the one that does the profit and loss statement, the P&L statement and the balance sheet. 这就是财务之所以能提供损益表和资产负债表的原因。This is the judgement of the system as a whole.这是对系统作整体评估。Another thing is not just judging backwards in time like the P
6、&L is always done on the last quarter of the last year, but forward in time.财务不只能在事后提供评估，例如损益表总是在每年的最后一季制作，而且也能在事前提供评估。And I am talking about judging investments.我要说的是评估各项投资。When you are filling in an appropriation request for a new machine you have to justify it.你在填写一部新机器的申请单时，必须评估为什么要买它。And this u
7、sually goes through finance. 这时通常需要透过财务。It is not that they are making the final decision, but they are the ones who say whether or not the numbers that you put are realistic.并不是说财务有权作最后决定，而是他们能判定你提供的数字是否合理。Then there is a totally different judgement, more on day-to-day, which is make/buy decisions.
8、 于是他们有全然不同的评估方式，以决定是由内部制造或向外购买。What things should we do at home, what things should we rather buy from the outside.什么产品应该自己制造，什么产品应该从外面购买。And then, in many large companies, it is not just the system as a whole that has to be judged, but subsystems, profit centers.然而在许多大公司里，需要评估的不只是整个系统，也要评估次系统，所谓的利润
9、中心。They are the one who have to provide the judgement of the performance of the profit center. 财务人员必须提供利润中心的绩效评估。And last but not least, probably the one that is attracting most of the attention, the one that we take almost for granted, is the judgement of the product or the judgement of the service
10、.最后，可能是最引人注目的一点，而我们通常都将这一点视为理所当然，那就是对产品或服务的评估。Do we make money on this product, and if so how much? 这项产品是否赚钱，如果是，赚多少？So we will know whether or not we want to push this product or maybe to refrain from offering it.由此可得知，我们是否要继续促销或停止提供这项产品。All this program is about improving the performance of our or
11、ganization.本课程所有的内容都是关于如何改善我们组织的绩效。And the question starts to be: do we have anything to improve regarding the judgement of all these five areas?问题是：我们是否需要改进评估这五部分的方式？To my amazement, when I am coming and asking managers in organizations: do we have room for improvement here, they will all say yes.令
12、我惊讶的是，当我走进组织里询问经理人：”我们这里是否有改进的空间？”他们都会说：”有。”But what are they complaining about? 但是他们在抱怨什么？They complain about the fact that the judgement is not timely enough.他们抱怨评估报告出来的速度不够快。For example, we have to wait three weeks after the end of the quarter in order to get the quarterly statements. Bad!例如我们必须等
13、到这一季结束后的三个星期，才能拿到季报。太慢了！If you talk with the financial people, they will tell you yes we have problems because it takes too much money or too much effort to assemble all this data or the data is not accurate.如果你跟财务人员反应，他们会告诉你：”没错，我们碰到一些问题，因为收集所有的数据需要花费很多金钱和精力，或者是数据不精确。”And yes they do agree that the
14、y have to improve in order to make it more timely. 没错，他们也同意必须改进才能及时提供数据。I think that the problem is by far bigger. And it is not just me who thinks like that. 我认为问题更严重，而且不是只有我这么想。I believe that most professionals in accounting, in finance, believe that the problem is much, much bigger.我相信很多会计和财务专家都认
15、为这个问题十分严重。They tend to joke about it. But they mean it seriously. 他们会拿这个问题来开玩笑，但是他们很严肃地看待它。For example, when you ask an accountant how much is two plus two? 例如，当你问一位会计人员：”二加二等于多少？”What is the answer of a good accountant? -What do you want it to be?好的会计人员会回答说：”你想要的答案是什么？”Now, this is a joke, this is
16、a joke that reflects reality.这是个笑话，但是反应出现实情况。Because many financial people will tell you dont rely on our numbers in order to make decisions.因为许多财务人员会告诉你：”不要根据我们的数字作决策。”Many financial people will tell you somehow in the way that we are doing the judgement what we are doing is relatively arbitrary.许多
17、财务人员会告诉你：”我们所采用的评估方法相当武断。”It is not just the problem that the data is not accurate. It is not just the problem that it is not timely. 这不只是数据不精确的问题，也不是提供速度不够快的问题。Something at the heart of it is probably not solid enough.问题的核心可能是评估方法不够稳健。Managers outside finance are unaware to what extent we do have a
18、 problem in the judgement in all the five areas. 在财务领域之外的经理人，不知道我们在这五个部分所碰到的问题。And in order to show you how devastating it can be, let me tell you a true story.我要举一个真实的个案，好让你知道后果有多严重。The facts about the story I got from the newspapers and some more juicy facts Ive got from the CEO of that company th
19、at Im going to talktell you about. 我从报纸上看到这个个案，至于一些精彩的内容则是来自于该公司的执行长。The CEO that inherited the mess that Im going to tell you about.他接下了一个烂摊子。The company is not small. It was one of the large companies in the United States. 这家公司不小，曾经是美国的大公司之一。Its annual sales close to 10 billion dollars a year, thi
20、s is not small by any mean.它的年销售额将近一百亿美元，总之公司绝对不小。In 1981 or was it 1982 first time for long, long time first time this company had made a loss.在1981或1982年时，这家公司蒙受长久以来第一次的亏损。They lost money, not much. But it came as a surprise.他们赔钱，金额虽然不多，却令人大吃一惊。Nobody expected it, especially on the background of a
21、bout over 25 years of making profit every quarter.没有人想到会亏钱，因为这家公司有着25年以上每季都赚钱的辉煌历史。The board of directors reacted immediately. 董事会马上做出反应。They retired the CEO, and hired a new very able person a tough cookie.他们撤换执行长，而且聘请一位非常能干的新人。Somebody who was known to say a business is not a popularity contest.这个
22、人以说：“经营企业并不是知名度比赛。”这句话而声名大噪。This guy was very, very capable.他非常能干。And when he came his first action was give me a list of all parts that we are doing in our company.他来到这家公司后，第一件事就是说：“给我一份公司生产的所有零件清单。”This was a mammoth list because they were doing well over 50 000 different parts -one of the largest
23、 companies in providing heavy equipment for agriculture.这份清单内容庞杂，因为他们生产五万种以上不同的零件，这是一家提供重型农业设备的大公司。You can imagine how many parts go into one tractor, so you can imagine how many parts this company will do.你可以想象光一部曳引机里就有多少零件，由此可知这家公司生产了多少零件。He wanted full list of all the parts. The computer printout
24、 was like that.他要所有零件的完整清单，所以计算机印出来的清单相当庞大。And for each part he wanted to know first of all can we buy it from the outside. 针对每个零件，他想要知道“我们是否能从外面购买？”Not everything that they are producing. There is a capability of buying from the outside. 不见得所有东西都必须自己生产，也可以从外面购买。So first of all can we buy from the o
25、utside.所以首先我们必须决定是否能从外面购买。And if we can give me two numbers: one is- how much does it cost us to produce in house and for how much can we buy it from the outside.如果可以，给我两个数字：我们自己生产的成本和从外面购买的成本。And then he looked at this list and said no wonder that we are losing money.接着他审视这张清单说：“怪不得我们会赔钱。”Look on h
26、ow many parts we are doing at home where actually it is cheaper to buy from the outside.你看看有那么多零件其实从外面购买比较便宜，但是我们却自己生产。So he gave a mandate. 所以他下令。Everything that we can buy cheaper from the outside - outsource and internally trim.凡是从外面购买会比较便宜的零件就外包，不要自己生产。It is not a popularity contest.这不是知名度比赛。Now
27、 this was done even though many companies are doing it and even though these are common procedures.现在许多公司都这么做，而且这些都是大家习以为常的作法。On that case it was done on a mammoth scale, rigorously.在上述的例子中，这家公司采取大刀阔斧的作法。As a matter of fact, some divisional managers have tried to protect their kingdom and tried to u
28、se some delaying tactics.实际上，有些部门经理曾试着要保卫自己的王国，想要施展一些拖延战术。He was moving so quickly and he made few of them into examples. 但是新执行长改革的速度很快，不让这些部门经理成为其它人的榜样。So nobody dared to slow down.所以没有人敢放慢脚步。And then as like every good CEO should do you have to follow up, you have to do course corrections.接着，就像其它优
29、秀的执行长一样，你必须持续追踪，然后稍作修正。So he asked 2 months later give me now the list again. 他要求两个月后，再给他一份清单。This time recalculate because the situation has changed.这一次成本要重新计算，因为情况已经改变。So recalculate how much it cost us now and because the market has changed, recalculate how much can we buy now from the outside. 重
30、新计算我们现在的成本，而且因为市场已经改变，要重新计算我们能从外面购买多少零件。And what did he find out. Well, it should not come as a surprise to anybody who understands something about organizations. 他发现了什么？对组织有些许了解的人，应该不会对结果感到意外。Look, when you buy from the outside instead of producing at home and you trim at home, yes you can lay off
31、in some countries people.你看，如果你从外面购买而不是自己生产，公司就可以缩编，没错，你可以裁员。You can fire them. Can you fire a machine? Can you fire a building? Not with the match that is. 你可以开除人员，但是你能开除机器吗？你能开除建筑物吗？这无法相提并论。Which means- when he trimmed inside did he save all the cost that was supposed to be the cost of the parts.也
32、就是说，他内部缩编省下来的所有成本，是否就等于零件的成本？He saved just what- just a direct labour- a little more than that, a little bit less than that, depends on how it worked.他省下来的只是直接劳工成本，至于确切的金额多少，则要视运作的成果而定。The vast majority of the cost is not direct labour.然而大部分的成本并不是来自于直接人工成本。Which means what he bought from the outside
33、 was more expensive than the trimming inside.也就是说，他从外面购买零件的费用高于内部裁员节省的成本。No wonder that the results of the bottom line didnt look too good. But something more than that.怪不得财务报表上的利润不太好看，不过事情不只是这样。Now fewer parts made inside have to share the burden that they shared before that with all the parts that
34、 were now outsource.现在内部制造的零件较少，而这些零件必须去分摊目前已经外包的零件。Which means what happened when they now have done the recalculation?也就是说，当他们现在重新计算成本时，会发生什么事呢？Many more parts that they are doing inside have become more expensive. 现在他们内部制造的零件成本变得更高。Trim again on a huge scale. Of course, the bottom line went down,
35、 down.于是再一次大规模把零件外包，当然，利润不断往下掉。This person said wait a minute, I am doing everything correctly. I am doing what everybody believes in.这个人说：”等一下，我每件事都做对了，这些事情都是每个人深信不疑的。”And still something goes wrong. So he decided lets take some more aggressive actions.然而还是不太对劲，所以他决定：”让我们采取更积极的行动。”He said-where are
36、 our biggest investments? Well, that wasnt a big deal to find out in that company.他说：”我们最大的投资是什么？”嗯，在这家公司里并不难找到答案。The biggest investments were of course, the assembly plants.最大的投资当然就是装配厂。Do you know how much costs one assembly plant?你知道一家装配厂的成本是多少吗？For tractors and this type of equipment. Each one o
37、f these babies costs more than 1 billion dollars. 以生产曳引机这类设备而言，每家装配厂的成本超过十亿美元。I am talking just about the investment; not about the operating cost.我所说的只是投资成本，还不包括营运成本。And he said ok, now tell me what are the efficiencies of these assembly plants.他说：”好，现在告诉我，这些装配厂的效率如何？”They told him this one is 96%
38、and this one is bad it is only 93%.他们告诉他，这家工厂是96%，另一家比较差，只有93%。And then he said what the hell are you talking about.接着他说，你们到底在胡说什么。That your numbers are based on what- the calculation of two shifts a day 5 days a week.你们的数字是以每周五天、每天两班为计算基础。These investments are there 7 days a week 24 hours a day.这些机
39、器设备每周七天、每天二十四小时都在那里。Do the calculation now based on the real time frame on the base of 7 days a week 24 hours a day.现在要以每周七天、每天二十四小时为基础重新计算。Now, of course, when you do the calculations based on that what do you get?当然，如果你以上列基础来计算，会得到什么结果呢？You get that the efficiencies are less than 50%.结果是效率低于50%。So
40、 no wonder that we are losing money. 怪不得我们会赔钱。Our biggest assets are not utilised.我们没有充分利用最大的资产。So, activate the assembly plants full blast.所以，立刻让装配厂发挥最大效用They said- wait a minute, where are we going to take the orders?他们说：”等一下，我们要从哪边接订单呢？”He said -whats the problem, forward some orders, start to pr
41、oduce a little bit to forecast.他说：“有什么问题，把一些订单提前，依照预测生产一点”Totally acceptable practice all over the world.世界各地都接受这种作法。And they told him- we have to produce more parts and buy more parts.他们告诉他：”我们必须生产更多零件，购买更多零件。”He said fine, do it.他说：“好，就这么做。”They said we have a little bit of cash problems, and he s
42、aid thats fine I will take care of it.他们说：“我们的现金出了一点问题。”他说：“没关系，我会解决。”And he was a very able person.他是个相当能干的人。He went and borrowed money from 206 banks. In order for all assembly plants for the whole company to work 3 shifts 7 days a week for the entire last quarter of the year.他向206家银行借钱，好让全部的装配厂能在
43、今年最后一季每天三班、每周七天不间断地运作。And they succeeded to reach efficiencies that were never in the history of the company. Unbelievable.他们成功地达成公司前所未有的效率。太惊人了！Of course, they had to park their vehicles and instruments all over Canada and the United States.当然，他们必须把产品暂时堆放在加拿大和美国各地。But they were unbelievably efficie
44、nt and their biggest investments were utilised like they were never utilised before. 但是他们的效率很高，而且最大的投资得以充分利用。At the end of the year comes the judgement of the system as the whole- the P&L and the balance sheet, and what do you think was the result?到了年底，要评估整个系统，制作损益表和资产负债表，你认为结果如何呢？The result was tha
45、t you have made beautiful profit.结果是你创造惊人的利润。This person got a bonus, of course.当然，这个人可以分红。And then he said to himself- what do I do now?接着他对自己说：“我现在要做甚么？”I cannot continue like that.我不能继续这么做。Besides what am I going to do with all the products that are now parked everywhere. 此外，我现在该怎么处理那些堆积如山的产品？And
46、 he admits I dont know what to do and he took the responsibility and said- fine, I will resign. 他承认：“我不知道该怎么做。”他扛起责任说：“好，我会辞职。”And he resigned.然后他就辞职了。Nice story, except for the fact that a year after that the company had to fire 30 000 people.这是个很好的故事，美中不足的是，一年后公司必须裁员三万人。The situation was so bad th
47、at they had to dump all these products in prices that the farmer thought it is wonderful.情况很糟，所以他们必须贱价出售这些产品，价位低到让农夫乐不可支。The situation was so bad that not only that they had to fire so many people, they had to change their name.情况很糟，使他们不但得大量裁员，连公司都必须改名。But this story continues on.但是这个故事还没结束。You see, when they started to dump this equipment for a song, farmers even though they didnt need actually new equipment but here is a chance.你看，当他们开始贱价出售设备，纵使农夫对新产品没有实际上的需求，但低价仍使他们心动不已。So they went and bought it. Did the farmer have a lo
